Buy property in Mumbai

Q: Is it the good time to invest in mumbai and its suburbs. what are the good affordable housing options in mumbai and it suburbs.

Ravi Waghmare, Mumbai

13th February 2013

Investment Advice in Mumbai

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property prices in mumbai

residential property in mumbai

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Replies (5)

I agree with you all but Titwala which is a small town located near Kalyan, Thane is fast growing as an affordable real estate destination. The locality offers 1 BHK apartments at a minimal cost of Rs 17 lakh.
The area has witnessed 100% price appreciation in the last three years and the apartments in Titwala today cost double at what they were launched initially. Still, they are in an affordable range.
Also, investors as well as seekers are queuing up to the area, who can not afford properties in neighbouring areas like Bhandup, Kalyan, Vikhroli, etc.

Vineet Tendulkar, Mumbai

21st February 2013

Comment

A buyer has to spend upto Rs 80-90 lakh for a 1 BHK apartment in Sewri whereas a 2 BHK of 1399 sqft will cost upto Rs 2.45 crore. According to a survey, 2 BHK apartments in Sewri have more demand than 1 BHK apartments.
Most of the buyers in Sewri comprise of families and professionals who work in Navi Mumbai area and in its vicinity. About 45 percent of the buyers are investors in Sewri.
Some of the developers who have contributed in the real estate of Sewri are RNA Corp, Lodha Group, etc.

Deepankar Godbole, Mumbai

21st February 2013

Comment

I feel Sewri located on the eastern shore of Parel Island has recently turned many heads towards it for its affordability.
A lot of construction work has been taken up in the locality in the recent years. This is due to the opening up of mill lands and the Mumbai Port Trust area.
The locality has shown growth in recent times due to transformation of old residential inventory like Dnyaneshwar Nagar, Shivaji Nagar, SEWRI Koliwada, BDD Chawls, Gulmohar Society, Labour Camp and Bhatwadi. The prices of the apartments in Sewri have gone up by 21 per cent during July-Sept 2012 quarter.

Shantanu Kumar, Mumbai

21st February 2013

Comment

I agree with Padma.. Also, I would like to add that the main localities which are famous for buying second homes in Mumbai are the far flung suburbs in the city. Some of the localities include Karjat, Murbad, Alibaug, Mumbai-Nasik Road, etc.
With many affordable options, buying a second home is not only limited to high-end buyers. The middle income group also equally participates in the buying spree of a second property.

Lalit Verma, Mumbai

21st February 2013

Comment

Yes, I feel this is the good to time invest in Mumbai, especially in second homes.. Investing in second homes is a growing trend in metro cities especially in Delhi. This shows a rising trend in the residential real estate in Mumbai as well. Many claim that they will invest in a second home for long term self use but equal population quoted owning second home is just for investment purpose. The major factors which affects anyone’s decisions are budget and location of the project. High rental returns are also attracting a huge buyer base towards buying a second home.

Padma G, Mumbai

21st February 2013

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